Under the Albanese Government, Australia is facing a housing crisis. The great Australian dream of home ownership has never felt further out of reach.
We need to get our country Back on Track, and restore the Australian dream of home ownership.
Today, the Coalition is announcing new policies to boost housing supply.
Over the past two years, the Coalition has consulted with hundreds of local councils across the nation to discuss new housing supply constraints and practical ways to overcome these challenges. This consultation has made clear that one of the major impediments to new housing projects is the lack of funding for critical enabling infrastructure.
Whilst it is not the usual role of the Federal Government to fund enabling infrastructure like water, power, sewerage, and access roads, the scale of Labor's national housing crisis means the Coalition will, on a time-limited basis, unlock necessary new housing supply and keep the Australian dream alive.
We will invest in shovel-ready infrastructure, the lack of which is hindering the development of new housing, through a new Housing Infrastructure Programme (HIP).
An elected Coalition Government will commit $5 billion to get these projects moving, unlocking up to 500,000 homes to be delivered more quickly through a mixture of grants and concessional loans.
We know there are hundreds of greenfield sites across the country ready for development, but progress has been stalled due to a lack of funding for essential enabling infrastructure. Our approach is focussed on investing in enabling infrastructure to unlock the supply of shovel-ready new housing developments.
The cheapest form of housing for first home buyers is detached housing with backyards and our Housing Infrastructure Programme will be a catalyst for exactly this - new greenfield housing developments.
This funding will be offered on a 'use it or lose it' basis. This means if there is no progress on successful projects within 12 months of contracting, then the funding will be terminated.
The Government's housing crisis is failing Australians. Labor's promise to build 1.2 million homes over five years has already failed, with industry leaders confirming a likely shortfall of more than 400,000 homes.
Under this Government, building approvals have fallen to their lowest level in over a decade, dropping 8.8 per cent to just 158,690 new starts in 2023-24. Simultaneously, the Government has brought in more than one million migrants in their first two years in office, while only 350,000 homes have been constructed in that time.
That's why the Coalition's Housing Infrastructure Programme is essential to getting Australia Back on Track. It will have a significant impact in unlocking new projects or bringing forward projects that might otherwise be delayed for years.
Further, to address supply constraints, the Coalition is announcing today that we will freeze any further changes to the National Construction Code (NCC) for 10 years.
At a time of high inflation, the Government's changes to the NCC have added red tape and increased the compliance burden for new housing projects, driving up costs for purchasers. Stakeholders estimate the Government's recent changes to the NCC (including changes to energy efficiency standards) have added up to $60,000 to the price of a new home.
The Coalition's freeze will provide certainty to the industry and let builders get on with the job of building homes for Australians. We further commit to working with industry to review the Government's changes to the NCC and identify options to further reduce red tape and bring down costs for consumers.
Today's announcement sits alongside the Coalition's already-announced commitments to bring down demand and free up supply by reducing migration, our two-year ban on foreign investors and temporary residents purchasing existing homes in Australia, and capping the number of overseas students. These changes will free up over 100,000 homes for Australians over five years.
At the same time, the Coalition will work with the building and construction industry to ensure there are enough skilled and temporary skilled visas for those with essential skills to support our local tradies to build the homes we need.
The Coalition will also bring down the costs of housing by tackling union corruption that has contributed to driving up the costs of building by 30 per cent. The Coalition will deregister the CFMEU, restore the ABCC, and ensure tough judicial scrutiny for union officials who do the wrong thing.
A Dutton Coalition Government will restore the great Australian dream of home ownership.
